Dear traders,
USDCHF has made a strong impulse to the downside. It is retracing now. If we take a Fibonacci, we can see that it is testing the 0.386 level. It has broken the previous support and became resistance. It has formed a M formation on the Weekly timeframe. The price has broken the neckline of that M formation and retesting it. Overall, its indicating a downward movement from Monthly, Weekly and Daily timeframe. Good luck guys!
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Guys if you like my ideas, please drop a like and follow me if u like my trades. Post comments about your idea too. We can manage the trade together.
__________________________________________________________________________________________________________________________________________________
DISCLAIMER:
__________
This is just my personal opinion. Every trader is independent. Every trader has the freedom to place a trade in any direction.
Thank you for your support,
FX Specialist
USDCHF has made a strong impulse to the downside. It is retracing now. If we take a Fibonacci, we can see that it is testing the 0.386 level. It has broken the previous support and became resistance. It has formed a M formation on the Weekly timeframe. The price has broken the neckline of that M formation and retesting it. Overall, its indicating a downward movement from Monthly, Weekly and Daily timeframe. Good luck guys!
__________________________________________________________________________________________________________________________________________________
Guys if you like my ideas, please drop a like and follow me if u like my trades. Post comments about your idea too. We can manage the trade together.
__________________________________________________________________________________________________________________________________________________
DISCLAIMER:
__________
This is just my personal opinion. Every trader is independent. Every trader has the freedom to place a trade in any direction.
Thank you for your support,
FX Specialist